Natco Pharma gains after Hyderabad facility clears USFDA inspection

Natco Pharma rose 2.07% to Rs 814.20 at 9:48 IST on BSE after the company said its facility near Hyderabad cleared USFDA inspection with zero observation.

The announcement was made on Saturday, 17 February 2018.

Meanwhile, the S&P BSE Sensex was down 127.84 points, or 0.38% to 33,882.92.

On the BSE, 43,000 shares were traded in the counter so far compared with average daily volumes of 35,280 shares in the past one quarter. The stock had hit a high of Rs 849 and a low of Rs 813 so far during the day. The stock hit a record high of Rs 1,080 on 9 June 2017. The stock hit a 52-week low of Rs 671.25 on 10 August 2017.

The stock had underperformed the market over the past 30 days till 16 February 2018, falling 20.69% compared with 3.54% fall in the Sensex. The scrip had also underperformed the market in past one quarter, falling 11.59% as against Sensex's 2% rise. The scrip had also underperformed the market in past one year, rising 4.63% as against Sensex's 19.47% rise.

The large-cap company has equity capital of Rs 36.90 crore. Face value per share is Rs 2.

Natco Pharma announced the successful completion of regulatory inspection from the United States Food and Drug Administration (USFDA) for its active pharmaceutical ingredient (API) facility in Mekaguda village, near Hyderabad, which was conducted during the period 12 February 2018 to 16 February 2018. The regulatory audit resulted in zero observations i.e. no form 483 issued.

On a consolidated basis, net profit of Natco Pharma rose 11.54% to Rs 217.40 crore on 16.08% decline in net sales to Rs 562.20 crore in Q3 December 2017 over Q3 December 2016.

Natco Pharma is a vertically integrated and research and development (R&D) focused pharmaceutical company engaged in developing, manufacturing and marketing of finished dosage formulations and active pharmaceutical ingredients.

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